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Alba Iulia
Wednesday, August 12, 2020

AB Bank Zambia signs deal with Medeem Zambia to enable SME on traditional land to obtain agribusiness loans

Economy AB Bank Zambia signs deal with Medeem Zambia to enable SME on...

AB Bank Chief Credit Officer Nurullo Mashrabov signs the MoU with Medeem Business Development Manager Musenge Nsakilwa.
AB Bank Chief Credit Officer Nurullo Mashrabov signs the MoU with Medeem Business Development Manager Musenge Nsakilwa.

Medeem and AB Bank have signed a deal to enable use of Medeem’s traditional land certificate known as ParcelCert as a required by Small and Medium Enterprises to access financing to develop their agriculture business.

Medeem Zambia, is a land rights documentation company whose mission is to provide affordable, accessible, sustainable solutions for land tenure documentation and promote security of land tenure, serving those at the bottom of the economic pyramid.

Speaking during the signing ceremony, AB Bank Chief Credit Officer Nurullo Mashrabov said the Bank targets the unbanked people in the country who may not have easy access to financial services from traditional financial service providers.

Musenge Nsakilwa, the Business Development Manager at Medeem said “Medeem is delighted to sign the MoU with AB Bank as it will enable our clients to not only have formal documentation to the land they occupy but also have access to financing that will help boost their agriculture businesses.”

Medeem and AB Bank are trying to support farmers and SMEs who have traditional land and are registered with Medeem to have access to financial services which will enable them to improve their businesses and agricultural activities.

5 COMMENTS

  1. Interest rates at AB Bank are just too high. Marketeers are being exploited while BOZ is watching and laughing

    • How do interest rates come down if your government borrows most of the money? Why don’t you ask why interest rates rose after the PF came into govt? What can BoZ or any central bank do in a situation like that?

  2. I just hope and pray this is not another ploy schemed to grab traditional land from poor farmers who in most cases will be failing to repay back the exorbitant loans. The interest rates in Zambia are just too high and Boz seems very un concerned and if you talk about the variable interest rates being used …..its just something else….Tefintu……combined with poor crop harvests due to poor rainfall patterns.I foresee a form of slavery on the poor farmers. a well thought business plan though ,but for the vultures in Banks.

  3. It is obviously a ploy to grab land from defaulting farmers. Our interest rates are abnormally high and banks are taking advantage of this because they know the majority of burrowers will never be able to repay back the loan. More crooks coming to steal.

Comments are closed.

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